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2015 Barrett Lakes Boulevard Nw #311 Kennesaw, GA 30144

3 Beds 3 Baths 2,227 sqft Built 2002

$269,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $120.79
  • 15 Days on Market
  • MLS # : 6798341
  • Updated Date : 11/01/2020 at 16:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,227 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Great Location !!! This spacious 3 bedroom/ 2.5bath End-Unit Townhouse features Hardwood Floors throughout Living & Dining Rooms, Open Floor Plan w/Large Kitchen and island, Huge Living Room, Large Covered Patio overlooking Private Backyard. 3Large Bedrooms Upstairs w/2 full bathrooms, including a jack-and -Jill, Master bedroom includes large walk-in Closet. Oversized Two Car Garage. Walk to shopping, dining,& entertainment, including Costco, Target, Whole Foods, Bahama Breeze, etc. Price to sell !!! this one won`t LAST!!!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: The Townhomes at Barrett Walk

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: The Townhomes at Barrett Walk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8312009

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Bells Ferry Elementary School Primary Regular 688 44 8
Daniell Middle School Middle Regular 952 52 7
Sprayberry High School High Regular 1,761 104 7

Bells Ferry Elementary School

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 44
8
GreatSchools Rating

Daniell Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 52
7
GreatSchools Rating

Sprayberry High School

  • Education Level: High
  • # of students: 1,761
  • # of teachers: 104
7
GreatSchools Rating
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$992
Property Tax -$238
Property Insurance -$70
HOA -$197
Property Management Fees -$119
CASH FLOW
$34

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$269,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$16,588

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,650

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,848

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$2,0003$2,0504$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 2015 Barrett Lakes Boulevard Nw Kennesaw, GA 1
    • 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 719 Pear Grove Place Marietta, GA 2
    • 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2005
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 2005 Mccook Drive Nw Kennesaw, GA 3
    • 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2004
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.81
    •  
  • 509 Water Birch Way Marietta, GA 4
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2005
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.80
    •  
  • 105 Mccook Way Nw Kennesaw, GA 5
    • 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2004
    property image
    LEASED 05/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
PROPERTY LISTING DETAILS
Steve Sangmin Shin
1.404.429.0831
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6798341
Last Updated: 11/01/2020
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. © 2017 First Multiple Listing Service, Inc.

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